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The PS3 will always be in strong competition with the X360. 3rd party developers will not be too enthusiastic in developing exclusive games for the PS3. Most of them will go multi which is a reasonable economical decision.
With all those multi titles PS3 and X360 are very similar products. Price matters when products are that similar. MS will be able to offer a cheaper X360 and that will always be a big advantage.

Sure, Sony can still try to attack Nintendo in the expanded market. I doubt Sony will be successful, but maybe thats's worth a try and maybe in 2015 the PS3 will be able to sell 80-90m units.